On Monday, the Nigerian Stock Exchange halted its streak of losses as the All-Share Index (ASI) settled at 99,665.05 basis points, representing a slight uptick of 0.13 percent from the previous mark of 99,539.75 basis points.
Additionally, the market capitalisation also experienced growth, climbing by N70.869 billion to reach N56.367 trillion, up from N56.296 trillion. Consequently, the Month-To-Date and Year-To-Date returns settled at -4.7 percent and +33.3 percent, respectively.
The positive trend on Monday was mainly due to the robust performance of leading banking stocks, such as Guaranty Trust Holding Company and Zenith Bank, as their stock prices appreciated by 9.55 percent and 6.76 percent, respectively.
On the performance board, Japaul Gold outperformed others on the gainers board by advancing in share value by 9.58 percent. Conversely, TIP faced a downturn, leading 19 declining stocks with a 10 percent drop in share price. The market experienced a modest increase, with trading volumes climbing by 18.91 percent.
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This surge resulted in an additional 48.76 million shares being traded, bringing the total volume to about 306.62 million shares. GTCO led the trading volume with 50.16 million shares, closely followed by Access Corporation with 48.07 million shares.
Other notable trading volumes included UBA with 41.74 million shares, Universal Insurance with 39.71 million shares, and Zenith Bank with 15.17 million shares.
However, the total value of trades slightly decreased by 1.81 percent, settling at N5.301 billion compared to N5.399 billion in the previous session, indicating a N97.95 million decrease.